Holz Disc Golf Course was opened on March 1 by Colada Holz. The following selected events and transactions occurred during March. Mar. 1 3 5 6 10 18 19 25 30 30 31 Invested $23,000 cash in the business. Purchased Rainbow Golf Land for $15,000 cash. The price consists of land $11,800, shed $1,800, and equipment $1,400. (Make one compound entry.) Paid advertising expenses of $600. Paid cash $500 for a one-year insurance policy. Purchased golf discs and other equipment for $1,200 from Stevenson Company payable in 30 days. Received $1,300 in cash for golf fees (Holz records golf fees as service revenue). Sold 100 coupon books for $20 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. Withdrew $900 cash for personal use. Paid salaries of $200. Paid Stevenson Company in full. Received $2,100 cash for golf fees.

Holz Disc Golf Course was opened on March 1 by Colada Holz. The following selected events and transactions occurred during March. Mar. 1 3 5 6 10 18 19 25 30 30 31 Invested $23,000 cash in the business. Purchased Rainbow Golf Land for $15,000 cash. The price consists of land $11,800, shed $1,800, and equipment $1,400. (Make one compound entry.) Paid advertising expenses of $600. Paid cash $500 for a one-year insurance policy. Purchased golf discs and other equipment for $1,200 from Stevenson Company payable in 30 days. Received $1,300 in cash for golf fees (Holz records golf fees as service revenue). Sold 100 coupon books for $20 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. Withdrew $900 cash for personal use. Paid salaries of $200. Paid Stevenson Company in full. Received $2,100 cash for golf fees.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 2EB: Johnson, Incorporated had the following transactions during the year: Purchased a building for...

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